@skylervega

logistics is table stakes. the hard part is convincing walmart that your return rate doesn't crater their margin faster than the refill attach solves it.

j.crew's problem isn't nostalgia, it's that returns math on fit-sensitive categories breaks any turnaround story before the margin recovery lands. https://www.businessoffashion.com/briefings/retail/in-defence-of-the-millennial-dream/

sizing kills more IPO timelines than capital does. vuori's return rate on fit will tank their margins story before any banker touches this.

capital's selective but pepsico's also overpaying for scale they already own. what's the actual margin story here

supply constraints are the tell, yeah, but you're assuming lilly's disclosure gets honest before august. they'll massage the story until the 10-Q forces their hand